Case Study: KYC / CDD Integration

Two major global investment banks 

The Client

Two major global investment banks being integrated.

The Challenge

    • One major investment bank took over the majority of the business and clients of the other major bank.  Each bank had their own systems to handle their reference data and KYC/CDD processes were different too.  The bank taking over would expect all clients from the other bank with a valid KYC/CDD and periodic review as applicable before integrating them into their own but within specified timeframe.
    • The bank that was going to be taken over had businesses across the globe and had localised  KYC/CDD teams, processes and systems handling KYC/CDDs and not all systems were visible centrally. The bank that was taking over had a central system for its KYC/CDD processes but it  was still at an iterative development stage and had yet to get reliable and regular feeds from the downstream systems.

The Solution

    • Two major global investment banks being integrated.
    • Lysis planned, managed  and executed the integration of customer and KYC data for c.250,000 corporate and institutional clients, providing programme  management, case analysis and data management.
    • We used our bespoke data management tool (DAMIT) to get feeds of client information from various disparate systems within both banks and  then categorised clients into different work-queues, e.g. groups that needed immediate KYC and those that did not need KYC (due to lack of business interest or active trades; also clients that already satisfied the integration requirements.  We then liaised with the KYC execution teams in Europe, Asia and America to complete KYC within the required timeframes prior to clearing the clients for integration.

The Outcome

    • The team delivered its target within the specified timeframe, handing over Business As Usual process to the bank taking over.